Bulls took the day off on Friday after two days of strong gains.
The Nasdaq added 1 to 1468, the S&P 500 slipped 3 to 930, and the Dow gave back 40 to 8804. Volume declined to 1.63 billion shares on the NYSE, and 1.96 billion on the Nasdaq. Advancers led 17 to 15 on the NYSE, and 17 to 15 on the Nasdaq. Upside volume was 49% on the NYSE, and 51% on the Nasdaq. New highs-new lows were 30-25 on the NYSE, and 68-23 on the Nasdaq.
Brocade plunged 27% on a warning and news of the departure of President Michael Byrd.
TiVo gained 7.5% on strong subscriber growth.
Agile and Serena
surged on positive earnings reports, and Flextronics
gained after maintaining guidance.
Research In Motion , up 8%, said it will appeal a $23 million verdict.
AOL , up 1.5%, is focusing on incremental growth.
Razorfish fell 11% on a “takeunder” of $1.70 a share.
Ciena gained 15% on rumors of strong business.
Autodesk , Marvell
and Novell
fell on their earnings reports.
Liberate fell 14% after suspending its COO over accounting issues.
New 52-week highs included Amazon.com , SafeNet
, Sina.com
and United Online
.
Cisco , off 2.3%, said in its latest 10-Q filing that first quarter net income would have been reduced by 60% if the company had expensed stock options.
SBC slammed WorldCom and Verizon
launched a Wi-Fi effort.
Siebel , up 1%, joined forces with Lockheed Martin.
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